Overall, Molson Coors earned $131.5 million, or 71 cents per share, for the period ended Dec. 31. That compares with $60 million, or 33 cents per share, a year earlier. Income tax expense declined to $13.7 million from $68.8 million.

Excluding restructuring costs and other items, earnings were 68 cents per share. Analysts, on average, expected earnings of 72 cents per share, according to a FactSet survey.